Mexico's TV Azteca buys control of Guatemala TV co.

MEXICO CITY, March 25 (Reuters) - TV Azteca, Mexico's second largest broadcaster, said on Tuesday it bought about 70 percent of Guatemala's Latitud TV to tap into the broadcast and cable television markets in the small Central American country.

Financial terms of the acquisition were not disclosed and a company spokesman could not offer further details.

TV Azteca (TVAZTCACPO.MX), owned by Mexican tycoon Ricardo Salinas, said it will air its content on Guatemala City's open air television as it aims for an advertising market valued at $100 million a year.

The Latitud TV deal also will give it access to a nationwide cable market, TV Azteca said.

Guatemala, with a population of 12.7 million, is among the poorest countries in Latin America.

The television deal will increase Salinas' presence in Guatemala, where he already operates his Elektra (ELEKTRA.MX) retail stores and Banco Azteca banks, which cater to low-income consumers. (Reporting by Cyntia Barrera Diaz; editing by Carol Bishopric)